Global Atlantic Financial Group
4.8
based on complex data
Annuity Educator Rating
Annuity review

Income 150+ SE 7

The Income 150+ SE 7 annuity is a fantastic financial product designed for those planning for retirement or who are already retired. It's great because it offers a set income stream, meaning you can enjoy your golden years without worrying about finances.

Highlights from the product brochure include guaranteed income for life and potential income increases to help you keep pace with inflation. Simply put, this annuity is an investment in peace of mind and financial security for your future. I highly recommend it!

Income 150+ SE 7-brochure Income 150+ SE 7-brochure

Income 150+ SE 7

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About Product

Type
Fixed Index
Purpose
Lifetime Income
Term
7 Years
Surrender schedule
8%
8%
7%
6%
5%
4%
3%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and TSP
Launch Date
08/27/2018
Income 150+ is a single premium fixed index annuity designed with a guaranteed lifetime withdrawal benefit which provides income through guaranteed Lifetime Annual Payments that clients cannot outlive (assuming no excess withdrawals). 
Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
2.25% Fixed
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
3.25% Cap
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
85% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
55% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
85% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
55% Participation
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
120% Participation
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
85% Participation
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
55% Participation
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
5.75% Cap
1-Year S&P 500 PTP Cap
Point to Point
Annual
3.25% Cap
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
80% Participation
2-Year Franklin US PTP Spread
Point to Point
Biennial
2% Spread
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
3% Performance triggered
1-Year Fixed Account
Fixed
2.5% Fixed
2-Year PIMCO Balanced PTP Participation Rate
Point to Point
Biennial
130% Participation
2-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Biennial
95% Participation
1-Year JP Morgan Cross-Asset Strategy PTP Participation Rate
Point to Point
Annual
65% Participation
2-Year Franklin US PTP Participation Rate
Point to Point
Biennial
95% Participation
1-Year Franklin US PTP Participation Rate
Point to Point
Annual
65% Participation
2-Year Franklin US PTP Spread
Point to Point
Biennial
1% Spread
2-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Biennial
95% Participation
1-Year MSCI EAFE PTP Cap
Point to Point
Annual
3.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Participation Rate
Point to Point
Annual
65% Participation
1-Year S&P 500 PTP Cap
Point to Point
Annual
3.5% Cap
1-Year BlackRock Diversa Volatility Control PTP Cap
Point to Point
Annual
6% Cap
1-Year PIMCO Balanced PTP Participation Rate
Point to Point
Annual
90% Participation
1-Year S&P 500 Performance Trigger
Performance Triggered
Annual
3.25% Performance triggered

Surrender schedule

Year 1 2 3 4 5 6 7
Penalty 8% 8% 7% 6% 5% 4% 3%

Hypothetical Projection

Comparison against S&P 500 using current rates
indexed chart
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Riders

Name Inbuilt Fee
Income 150+ Guaranteed Lifetime Income Benefit Plus Yes 1.20% annually

Waivers

Bail-Out

The Contract Value may be withdrawn with no Withdrawal Charges or MVA if after the Initial Strategy Term expires the renewal rates/caps are set at rates below (above for spread-based strategies) the Bailout Rate (Withdrawal Charge Waiver Rate).

Nursing Home

At any time on or after the Issue Date of the policy, if you should become confined to an approved nursing facility for at least 90 consecutive days, withdrawal charges and MVA on any portion of the contract value withdrawn will be waived. The nursing home waiver does not include home health care.

Terminal Illness

If you have been diagnosed with a terminal illness after the first contract anniversary, withdrawal charges and MVA will be waived on any portion of the contract value withdrawn.

Premium Notes

Premium amount 
  • $10,000 minimum premium 
  • $1,000,000 maximum premium for ages 55-80 (as measured by total contribution per person for all annuities with the company) 
  • $500,000 maximum premium for ages 81-85 (as measured by total contribution per person for all annuities with the company) 

Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

WithdrawalUp to 10% of the beginning-of-year contract value may be withdrawn annually without incurring a withdrawal charge. Withdrawal charges apply to amounts withdrawn in excess of the free withdrawal amount during the withdrawal charge period. Any Required Minimum Distribution (RMD) imposed by the IRS on this contract Withdrawals taken prior to beginning income benefits and those greater than the GLWB amount will reduce the Withdrawal Base and Lifetime Annual Payment amount. The reduction will be proportionate to the resulting reduction in the contract value, which may reduce the Withdrawal Base by more than the amount withdrawn. Market Value Adjustment (MVA)Market Value Adjustment refers to the potential fluctuation of the surrender value of the annuity in response to market conditions. Applies during the withdrawal charge period on withdrawals in excess of the free partial withdrawal amount. The MVA also applies to annuitization during the withdrawal charge period when a withdrawal charge would also apply. Guaranteed Lifetime Withdrawal Benefit GLWBThe GMSV is equal to the Premium Payment less withdrawal proceeds. If GLWB income activation has not occurred, the GMSV is used for determining the following after the withdrawal charge period when greater than the contract value: Death BenefitSurrender valueContract value for annuitization purposes Death Benefit Remaining contract value passes to beneficiaries at no additional charge. 

Company Founded: 2004
Excellent Rated Company
Global Atlantic Financial Group
Company Ratings
4.5
  • A.M. Best A
  • Fitch A
  • S&P A-
  • Moody's A2
  • Comdex 75
Assets: $54,996,099,814
Indiana

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